ZeHabesha Ethiopian News | Latest News for All | 24/7

Court Orders Midroc to Pay Half a Billion Birr | Addis Fortune Breaking News

alamudi

Two court cases involving four state enterprises, brought against MIDROC subsidiary Horizon Plantations Plc, closed with the court ordering Horizon to effect immediate payment of almost half a billion Birr to the Ministry of Public Enterprise.

Gojeb Agricultural Development, Horizon Addis Tyre, Limmu Coffee Farm and Bebeka Coffee estates were all transferred to the MIDROC Group with advance payments and a set installment payment schedule.

Horizon Plantations, the plaintiff, failed to follow the schedule set for payment. The Company admitted the failure which it claims is a result of financial crisis it faced recently. Horizon asked to be granted a six-month grace period in which it promised to rectify what went wrong in all cases.

The 8th Bench of the High Court in the past months examined the case and uniformly denied the request in the two cases. The total amount MIDROC is expected to pay adds up to 433,571,241 Birr on which interest will be calculated if there is further delay or failure.

4 Comments

  1. Al Amoudi will not pay a dime. Tplf will defend him against the state. Instead there will be another ruling to compensate him for offending him.
    Mark my words.

  2. Al Amoudi has sucked the blood (gold/other minerals) and meats (land, economies) of Ethiopians.
    He has committed so many masked crimes in the last 25 years.
    Ethiopians shall put his likes and the TPLF’s in a condition of self-mutilating.
    Al Amoudi = Al Dead.

  3. I agree Al Amoudi will not pay a dime. He is TPLF pillar since they started the struggle. He has helped the mafia group to kill, torture and suppress the Ethiopian people. He has looted all the natural resources you can imagine including land. Don’t expect any justice from Kangaroo court. Justice is going to be only with Iron and Blood.

  4. Alamoudi will take from the people whatever the court orders him to pay to the court. The court will not protedt the people from alamoudi as long he pays them what they ask him to pay to the court. these has been going on for decades he pays the government and the government gives a blind eye when he steals from the people.

Leave a Reply

Your email address will not be published.